I bought SPY Puts earlier 8/17 270 and 263. Although, my portfolio is down 40% at the moment, I came across the Elliot Wave Theory and thought that this might come in play. Friday's strong push caught me off guard so it would only be a miracle if this comes true. However, if we see strong momentum that breaks past ~276, I will close out my positions.
Disclaimer:...
On this wide time scale, it is easy to see a classic U-shaped Double Top formation (Naked Forex), which often precedes downward price action.
This pattern plays out like a carbon copy on FMCCP, FMCCT, FMCKI, & FMCKP.
Those seeking to enter into a long-term long position in the Freddie Mac family of CMN and PFD stocks that have not already done so should consider...